Dublin-based PE firm backs acquisition of engineering business

Dublin-based private equity firm Renatus Capital Partners has backed WH Scott Group’s acquisition of steel fabrication company Bluecoat Engineering in a deal advised by KBS Corporate.

Specialising in lift components, Bluecoat has been sold to Re-Ropes, the lift industry division of WH Scott Group, which is based in Mallusk just north of Belfast.

Bluecoat was founded in 2011 by Graham Ladbrook, Michael Roach and Ray Lynch, who have managed the business ever since. The company manufactures and fabricates metal parts used in lift cars, giving them a modern, durable finish without the cost and disruption of full replacement.

In a transaction advised by Joe Darbyshire, KBS Corporate Deal Executive, with legal services provided by K3 Law, the acquisition provides a natural fit, with Re-Ropes specialising in the machinery that moves a lift and Bluecoat the lift car and components around it. Together, they offer a single, trusted partner for lift refurbishment and modernisation.

“We are incredibly proud of what we have achieved since founding the company and of the skilled team who have made it possible,” commented Bluecoat’s directors in the acquisition announcement.

“Joining Re-Ropes and the wider WH Scott Group is the right next step for the business, our customers and our employees. Our services complement each other perfectly and together we can offer the lift industry something genuinely complete.

“We would like to thank our dedicated team and loyal customers for their support over the years, and we look forward to the next chapter and the added strength and opportunities this partnership will bring.”

Bluecoat is the second business acquired by WH Scott in a KBS-advised deal in just over six months after Workplace Inspection Services joined their testing, inspection and certification division.

“For almost 40 years, Re-Ropes has focused on keeping lifts moving safely and reliably. Bluecoat brings the car, the landings and the fabricated components that sit around our work, so together we can offer our customers a far more complete refurbishment service,” said Sean Mulvihill, Director of Re-Ropes.

“Just as importantly, Graham, Michael, Ray and their team share our values of quality, reliability and genuine customer service. I’m looking forward to working together and to the opportunities this creates for our customers and our people.”

KBS Corporate’s Joe Darbyshire was delighted to bring the transaction to a successful conclusion and commented: “It was a pleasure to assist on the acquisition of Bluecoat Engineering. I’m confident the business is in great hands under the new ownership and I would like to wish the team all the very best moving forward.”